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WEEKLY SHIPPING MARKET

REPORT WEEK 6
WEEK 6 (6th February to 12th February 2016)

Market Overview

Bulkers
For one more week Dry Bulk market follow the negative trend of the last months. Situation has been affected as well from
Chinese New Year holidays which put the market in slower rhythms. Nevertheless there are still some buyers willing to
acquire younger tonnages at lower price levels, taking advantage of the finance pressured sellers.
M/V Spring Zephyr (181k dwt, 2010 Blt, Imabari) sold at $21,5 mill to Messrs Carval Investors price which remain in line with
last week's sale of one year younger capesize M/V Obelix (181k dwt, 2011 Blt Imabari) at $22,5 mill to Messrs Alpha
Bulkers. Owners of M/V Bulk Singapore (177k dwt, 2005 Blt Namura) decided to withdraw her from the market and focus on
the sale of their 2006 Blt Capesize Bulker M/V Shin Sho (177k dwt, 2006 Blt Mitsui). It is remarkable to emphasize on the sale
of M/V Falcon Trader II (54,9k dwt, 2009 Blt Oshima) which was committed at $7,8 mill while 2 years older M/V Federal
Baffin (55k, 2007 Blt Oshima) sold 1 week before at similar levels.

Tankers
On the Tanker sector s&p activity was quite with few sales being reported. Lr1's M/T Lorelei & M/T La Boheme (73k dwt,
2007 blt Stx S. Korea) committed to Greek buyers at a price of $28 mill creating a new benchmark in the sector. Understand
that M/T Ocean Mare (160k, 2006 blt Namura) invited offers on Monday. According to rumors she is still negotiated at a
price in the region of high $20's. While M/T Bm Bonanza (105k Dwt / 2007 Blt Sumitomo) and M/T Isis ( 116k dwt, 2007 Blt
Universal) are still for sale, it will be interesting to see the new benchmark for 9-10 years old Aframaxes.
Furthermore one more Aframax was placed for sale M/T Dubai Attraction - (115k dwt / Blt 2011 Hanjin S. Korea) adding one
more in the growing list of Aframaxes for sale.

Demolition
In the demolition sector a significant number of 90's built vessels are offered for demo while cash buyers have reduced
levels at region $220 - $240 per ldt. Understand that about 25 Capesize Bulkers and 50 Panamaxes have been demolished
since the begging of the year.

Advanced Shipping & Trading S.A 1st Floor, 168 Vouliagmenis Avenue 16674 Glyfada, Greece
Contact Details: Tel: +30 210 3003000 snp@advanced-ship.gr chartering@advanced-ship.gr finance@advanced-ship.gr

Second Hand Sales

Bulk Carriers
Name

Dwt

YoB

Yard

SS

Engine

Gear

Price (mill.)

Spring
Zephyr

181,725

2010

Imabari ,
Japan

08/2020

B&W

$ 21.5

Mairaki

181,483

2011

Stx , Korea

B&W

Undisclosed

Greeks

Kohyosan

172,564

2001

Epson
Trader

82,656

2007

Medi Kobe

75,924

2001

Falcon
Trader II

54,924

2009

Delia

41,185

1998

Apollon

30,855

1996

Nkk , Japan
Tsuneishi ,
Japan
Kanasashi ,
Japan
Oshima ,
Japan
Varna ,
Bulgaria
Nakai Zosen ,
Japan

Buyer
U.S.A
(Carval
Investors)

06/2016

B&W

$ 5.0

Turkish
(Karadeniz
Holdings)

05/2017

B&W

$ 7.5

Far Eastern

05/2016

B&W

$ 2.7

Undisclosed

01/2019

B&W

4 x 30 T

$ 7.8

01/2018

B&W

4 x 30 T

Undisclosed

Undisclosed

07/2016

B&W

4 x 25 T

$ 2.0

Middle East

Undisclosed

Tankers
Name
Lorelei
La Boheme
Kronborg
LPG Cambridge

Dwt
73,673
73,672
40,208
26,427

YoB
2007
2007
2007
2006

Yard
Stx , Korea
Stx , Korea
Sls , Korea
HHI , Korea

SS
04/2017
03/2017
07/2017
02/2016

Engine
B&W
B&W
B&W
B&W

Price (mill.)
$ 27.8
$ 27.8
Undisclosed
$ 41.5

Buyer
Greeks
Undisclosed
Indian

Containers
Name

Dwt

YoB

Vega Saturn

1,118

2008

Yard
Taizhou ,
China

Advanced Shipping & Trading S.A Research

SS

Engine

10/2018

B&W

Price (mill.)
Undisclosed

12/02/2016 2

Buyer
Undisclosed

Indicative Values - Bulk Carriers

Capesize

Prompt
Resale
35

22

11

5.5

Panamax - Kamsarmax

19

12

6.5

Supramax - Ultramax

18

10

6.5

3.5

Handysize

15

3.5

5 years

10 years

15 years

80

55

38

Size

5 years

10 years

15 years

Indicative Values - Tankers

VLCC

Prompt
Resale
100

Suezmax

70

60

42

26

Aframax
Panamax

57
45

46
33

31
23

17
14

MR

37.5

27

19

11

Size

Advanced Shipping & Trading S.A Research

12/02/2016

Demolition & Newbuilding

Demolition Sales
Vessel
Wugang Asia
Netherlands
Anemone
YM Kaohsiung
Weserwolf
King Grace
Samjohn Spirit
Aodabao
Eurasia

Type
BC
Container
BC
Container
Container
GC
BC
BC
GC

Built
1992
1997
1990
1998
1999
1986
1994
1995
1984

Ldt
36,817
24,225
18,941
16,203
13,062
9,943
9,902
9,589
4,050

Dwt
264.484
67.473
151.439
50.059
39.128
33.504
71.730
71.730
13.497

Price ($)
237
270
237
271
248
225
245
244
220

Country
India
India
India
India
India
Pakistan
India
India

Comments

Option Bangladesh
As Is China

Option Pakistan

Indicative Demolition Prices


Country

Tanker Prices

Bulker Prices

India

255

225

Bangladesh

250

220

Pakistan

250

220

China

120

110

Turkey

160

150

Newbuilding Orders - Tankers


No

Type

Mr

Dwt

50,000

Yard

Hyundai
Mipo , Korea

Advanced Shipping & Trading S.A Research

Delivery

2017

Owner

Australian

Price
(mill.)

Comments

$ 47.5

Bitumen/Products
Tankers
2 Tanks Bitumen
10 Tanks For Oil
Products

12/02/2016

Dry Bulk Chartering


Friday has arrived, Golden Week festivities are closing to an end and shipping professionals around
the world are slowly but surely preparing themselves for the upcoming weekend. Week 6 signed off
with positive signs(or maybe not?),as for the first time since December 24th, 2015, the Baltic Dry
Index scaled by 1 point to 291 points. Panamax ECSA/Feast grains activity looks certain to blame for
this (as February marks the beginning of the harvest season for the South American exporting
countries) and the related fixtures are here to prove it, their majority being concluded in the
mid/upper usd 6,000s plus usd150/175,000 ballast bonuses.
Unfortunately, the same cannot be said for the rest of the market where the downward trend
continues, an ongoing result of Chinas trepid demand for imported raw materials and the oversupply
of tonnage. Capesize iron ore activity is back on the books after the festivities, yet the 4 mining
majors (Vale, Rio Tinto, BHP Billiton and Fortescue Metals Group) continue to call the shots, paying
usd 2.85 pmt fioex West Australias Pilbara region ports and usd 5.60 pmt fioex Brazils Tubarao port
to North Chinas port of Qingdao, all for end February dates.
Two index-linked period fixtures also surfaced today. Pacific Panamax fixtures are being reported in
the low usd 3,000s to mid usd 2,000s range (always subject to delivery point and destination),
whereas Supramax activity continues to revolve around Indonesian coal, with APS rates ranging
fromusd1,500 to usd3,000 daily into South East Asian countries, China and India. Atlantic activity saw
a number of fronthaul Ultramax fixtures being concluded in the usd mid 6,000s range ex US Gulf and
usd 7,000 plus a usd 70,000 ballast bonus ex ECSA, both with Far East redelivery. Mild activity on the
Handysize segment, with fixtures ex Black Sea being reported in the low usd 1,000s and usd 2,000 for
Continent and Spanish Mediterranean destinations respectively

Baltic Indices (Friday Closing Values)


Index
BDI
BCI
BPI
BSI
BHSI

Week 6
291
199
324
243
183

Advanced Shipping & Trading S.A Research

Week 5
297
212
295
262
194

Change (%)
2,02
6,13
9,83
7,25
5,67

12/02/2016

Advanced Shipping & Trading S.A Research

12/02/2016

Key Indicators & Stock Markets

Currency

Week 6

Week 5

EUR / USD
USD / JPY
USD / KRW
USD / NOK

1.1283
112.47
1,211.54
8.5770

1.1127
117.31
1,197.54
8.6130

Change (%)
1,40
4,13
1,17
0,42

Week 6
31.16
2.00
1,242.90
459.50

Week 5
34.44
2.05
1,152.10
471.75

Change (%)
9,52
2,44
7,88
2,60

Commodity
Brent Crude (BZ)
Natural Gas (NG)
Gold (GC)
Wheat (W)

Euro/Usd
1.16
1.14
1.12
1.1
1.08
1.06
1.04
1.02

12
/0
7/
20
15
26
/0
7/
20
15
09
/0
8/
20
15
23
/0
8/
20
15
06
/0
9/
20
20
15
/0
9/
20
15
04
/1
0/
20
15
18
/1
0/
20
15
01
/1
1/
20
15
15
/1
1/
20
15
29
/1
1/
20
15
13
/1
2/
20
15
27
/1
2/
20
15
10
/0
1/
20
16
22
/0
1/
20
16
05
-F
eb

Weekly Brent Crude Price

Advanced Shipping & Trading S.A Research

12/02/2016

05/02/2016

22/01/2016

08/01/2016

25/12/2015

11/12/2015

27/11/2015

13/11/2015

30/10/2015

16/10/2015

02/10/2015

18/09/2015

04/09/2015

21/08/2015

07/08/2015

24/07/2015

10/07/2015

70.00
60.00
50.00
40.00
30.00
20.00
10.00
0.00

Bunker Prices
Port

IFO 380

IFO 180

MGO

Piraeus

143
142
155
137
130

160
180
165
157
170

303
425
280
275
320

Fujairah
Singapore
Rotterdam
Houston

Shipping Stock Prices Dry Bulk


Company

Stock Exchange

Week 6

Week 5

Change (%)

Diana Shipping Inc (DSX)


DryshipsInc (DRYS)
Euroseas Ltd (ESEA)
Eagle Bulk Shipping Inc
(EGLE)
Freeseas Inc (FREESE)
Navios Maritime (NM)
Navios Maritime PTN
(NMM)
Paragon Shipping Inc
(PRGN)
Star Bulk Carriers Corp
(SBLK)
Seanergy Maritime
Holdings Corp (SHIP)
Safe Bulkers Inc (SB)

NASDAQ
NASDAQ
NASDAQ

2.02
0.101
2.19

2.58
0.127
2.00

21,71
20,47
9,50

NASDAQ

0.42

0.80

47,50

NASDAQ
NYSE

0.073
0.79

0.101
0.84

27,72
5,95

NYSE

0.80

1.47

45,58

NASDAQ

0.065

0.077

15,58

NASDAQ

0.400

0.430

6,98

NASDAQ

2.490

3.450

27,83

NYSE
NASDAQ

0.47
0.61

0.42
0.66

11,90
7,58

Golden Ocean (GOGL)

Advanced Shipping & Trading S.A Research

12/02/2016

Shipping Stock Prices Wet

Company
Capital Product Partners LP
(CPLP)
TOP Ships Inc (TOPS)
Tsakos Energy Navigation (TNP)

Stock Exchange

Week 6

Week 5

Change %

NASDAQ

3.20

3.89

17,74

NASDAQ
NYSE

0.220
4.83

0.258
5.61

14,73
13,90

Shipping Stock Prices Other


Company

Stock Exchange

Week 6

Week 5

Change (%)

Aegean Maritime Petrol (ANW)

NYSE
NYSE
NASDAQ
NYSE
NYSE

6.38
4.65
2.49
24.59
2.38

7.23
5.09
2.80
26.96
2.69

11,76
8,64
11,07
8,79
11,52

NYSE

31.63

34.25

7,65

NYSE

21.19

22.89

7,43

Danaos Corporation (DAC)


StealthGasInc (GASS)
Rio Tinto (RIO)
Vale (VALE)
ADM Archer Daniels Midland
(ADM)
BHP Billiton (BHP)

Legal Disclaimer
The information contained herein has been obtained by various sources. Although every effort has been made to ensure that this information is
accurate, complete and up-to-date, Advanced Shipping & Trading S.A. does not accept any responsibility whatsoever for any loss or damage
occasioned or claimed, upon reliance on the information, opinions and analysis contained in this report.
Research compiled by:Advanced Shipping & Trading S.A. Market Research on behalf of the Sale & Purchase, Dry Cargo Chartering and Tanker
Chartering Departments. For any questions, please contact: research@advanced-ship.gr

Advanced Shipping & Trading S.A Research

12/02/2016